MPs query SSFR’s MINECOFIN link

Members of the Lower Chamber of Parliament have questioned the Minister of Finance (MINECOFIN), James Musoni, as to why the national pension falls under his ministry and not the Ministry of Public Service. Musoni was appearing before Parliament to shade more light on the organic law establishing the pension scheme in Rwanda.
Finance MinisterJames Musoni
Finance MinisterJames Musoni

Members of the Lower Chamber of Parliament have questioned the Minister of Finance (MINECOFIN), James Musoni, as to why the national pension falls under his ministry and not the Ministry of Public Service.

Musoni was appearing before Parliament to shade more light on the organic law establishing the pension scheme in Rwanda.

“I would like to understand why Social Security Fund of Rwanda (SSFR) is particularly under MINECOFIN when the money saved comes from the Ministry of Public Service,” Member of Parliament, Nyandwi Desire, asked.

Musoni, who was accompanied by the Director General of SSFR, Henry Gaperi, explained that according to the law, his Ministry was in charge of state finances and properties and was therefore lawfully in charge of the pensions body.

“There is an organic law on state finances and properties. If you read it carefully, The Ministry of Finance is mentioned as the caretaker of such institutions.

It is mentioned as the coordinator of such resources.”
He also explained that there was need to invest the money saved with SSFR and government as the guarantor was responsible for any losses incurred.

Musoni’s appearance follows that of the State Minister in charge of mines, Vincent Karega, who recently explained that as reforms progress, the government is considering putting in place a Provident Fund.

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